doubleg10
Level 3

The Smart Worksheet is calculating the correct amount and to see if there are limitations.  However, it is not adding it into the total amount for mortgage insurance, mortgage points and mortgage insurance premiums.  The hard copy of 2018 Schedule A doesn't have a place for mortgage insurance premiums.

2017 Schedule A has a line 13 and it is for mortgage insurance premiums.

0 Cheers
sjrcpa
Level 15

"Mtg. premium ins. deduction has been extended for 2018" What is your authority for this? Most of us believe it was not extended.


Ex-AllStar

View solution in original post

0 Cheers
mojocpa
Level 7
This seems to be the most popular misconceptions of the 2018 tax years.
0 Cheers
Wetman
Level 2
It has been extended but the software has not been updated yet. What is the holdup?
0 Cheers
Just-Lisa-Now-
Level 15
Level 15
It has NOT been extended.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
IRonMaN
Level 15
That's a pretty good reason for a holdup :smile::smile:

Slava Ukraini!
0 Cheers
stephen_b_ellen
Level 1
2018 PUB 936, PAGE 1, WHATS NEW:
 Mortgage insurance premiums. The itemized deduction for mortgage insurance premiums expired on December 31, 2017.
At the time this publication went to
print, Congress was considering legislation to extend the itemized deduction
for mortgage insurance premiums.
-So Yeah mind not changed
0 Cheers
Just-Lisa-Now-
Level 15
Level 15

Take a look at IRS Pub 936 and see if you change your mind that its deductible.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
stephen_b_ellen
Level 1
2018 PUB 936, PAGE 1, WHATS NEW:
 Mortgage insurance premiums. The itemized deduction for mortgage insurance premiums expired on December 31, 2017.
At the time this publication went to
print, Congress was considering legislation to extend the itemized deduction
for mortgage insurance premiums.
-So Yeah mind not changed
0 Cheers